"Oakland Agrees to Sell Coliseum to Black-Led Group for Redevelopment"
Originally Published 1 year ago — by KGO-TV
The City of Oakland is set to sell its half of the Coliseum complex to the African American Sports and Entertainment Group, paving the way for a massive entertainment, retail, and residential development project that could revitalize the area. The sale, valued at least $105 million, comes as the Athletics prepare to leave Oakland, leaving the Coliseum without a major tenant. The move is seen as an opportunity for East Oakland's development and will help cover the city's budget deficit, although officials emphasize that the decision is not solely financially motivated.